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We've found 32 Gross Domestic Product tests

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599) What is gross domestic product (GDP) , and what do economists use it to measure?
GDP is the total net sum of all goods and services in a country over a certain period of time. Economists basically use GDP as the measure of a country’s total wealth.
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What is Gross Domestic Product (GDP)?
it measures the total income of everyone in the economy
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What is Gross Domestic Product (GDP)? (Pg. 126)
the dollar value of goods and services a country produces within its borders
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Suppose, in 2014, you purchased a house built in 2003. Which of the following would be included in the gross domestic product for 2014?
the value of the services of the real estate agent
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Which of the following would not be included in the gross domestic product of the United States?
Value of McDonald’s sales for their Tokyo locations
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If private investors put a lot of money into the U.S. economy, the gross domestic product will increase. What else will likely occur?
An increase in inflation and a decrease in the unemployment rate
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2. TF #2 A research report showed that the U.S. spends $2.3 trillion on projects every year, an amount equal to 40 percent of the nation’s gross domestic product.
a. True *b. False
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Which of these economic indicators is most likely to be high during a recession? A. Retail sales B. Gross domestic product C. Unemployment rate D. Per capita personal income
Which of the following is not a part of macroeconomics? -inflation -unemployment in Nevada -gross domestic product -none of the above
unemployment in Nevada
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Which of the following is a leading economic indicator? A) S&P 500 index. B) Gross domestic product. C) Duration of unemployment claims. D) Industrial production.
Answer: A Broad stock market indices are generally leading indicators. GDP and industrial production are coincident indicators, and the duration of unemployment claims is a lagging indicator.
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